Statement re Convertible Note Loan Facility

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

4 March 2022

Cornerstone FS plc

("Cornerstone" or the "Company" or the "Group")

Statement re Convertible Loan Note Facility

Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces it has entered into an agreement (the "Agreement") to amend certain terms of the convertible loan note instrument that was executed by the Company and Mr William Newton on 17 March 2021 (the "Convertible Loan Note Facility"), as disclosed in the Company's admission document dated 26 March 2021.

Under the terms of the Agreement, in the event of a drawdown and the Company issuing Mr Newton with unsecured convertible loan notes (the "Loan Notes"), the Loan Notes may be converted at a subscription price of 26.5 pence. All other details of the Convertible Loan Note Facility remain unchanged and are as set out in the Company's admission document.

As Mr Newton is a substantial shareholder (as defined in the AIM Rules) of the Company and an Executive Director of the Company, the Agreement is classified as a related party transaction under the AIM Rules. The independent Directors (for the purposes of the Agreement), having consulted with the Company's Nominated Adviser, SPARK Advisory Partners Limited, consider that the terms of the Agreement are fair and reasonable insofar as shareholders are concerned.

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About Cornerstone FS plc

Cornerstone FS plc is a payments focused fintech business that makes managing currency simple for SMEs. It provides international payment, currency risk management and electronic account services using a proprietary cloud-based multi-currency payments platform. These services are delivered directly and via white label partners on a SaaS basis to SMEs that engage in international trade. Cornerstone also serves some high-net worth individual clients.

Headquartered in the City of London, UK and with offices in Tunbridge Wells and Dubai, Cornerstone is listed on AIM under the trading symbol 'CSFS'. For more information, please visit www.cornerstonefs.com.